The value of Australia's superannuation industry is set to leap 60 per cent following the implementation of this year's superannuation reforms, according to new projections from Rice Warner actuaries.
It is just one of the findings from the group's Superannuation Market Projection Report.
The report also estimated that the superannuation market was set to reach more than $3.2 trillion dollars by 2022.
According to Rice Warner's projections, by 2022 around 40 per cent of superannuation will be held in post-retirement assets.
The group also forecast that the tax free advantages of pensions for superannuants would cause a move away from lump-sum withdrawals towards drawn down pensions.
The report also predicted members over 60 would use the transition to retirement concept to shift super into those pensions.
Transition to retirement allows members to roll some or all superannuation over into a retirement income stream, with the reduced income topped up by drawing on the member's superannuation.
Rice Warner projected that average balances held by members across all their superannuation accounts would grow to $184,800 by 2022, compared to $74,700 in 2007.
In 2005 balances were $45,000.
